Legislature passes bill to help protect senior citizens from fraud
Idaho has enacted House Bill 182, known as the “Report and Hold” law, to help safeguard seniors and vulnerable individuals from financial fraud and exploitation. The law empowers a wide range of financial professionals — including state or federally chartered banks, savings and loan associations, credit unions, credit union service organizations, regulated lenders, collection agencies, credit counselors, debt counselors, mortgage lenders and brokers, money transmitters, escrow agencies, broker-dealers, and investment advisers licensed or registered under Idaho or federal law —to intervene when they suspect a consumer is being scammed or manipulated. These entities are defined as financial institutions under the legislation. Individuals acting on behalf of these institutions, referred to as reporting persons, are authorized to place temporary holds on suspicious transactions and report suspected exploitation without fear of liability when acting in good faith. 
What the Law Does:
Temporary Holds on Transactions: Financial institutions and reporting persons may place a temporary hold on a transaction or disbursement from an account if they reasonably suspect fraud or exploitation. This crucial pause allows law enforcement, state agencies, and families time to investigate and take action before significant financial loss occurs.
Empowerment of Financial Institutions and Reporting Persons: Financial institutions and reporting persons are now empowered to identify and report suspicious activity. This may include large or irregular withdrawals, sudden changes in account behavior, or shifts in a customer’s demeanor that may indicate undue influence or fraud.
Protection for Those Who Report: While reporting is voluntary, reporting persons who act in good faith are protected from civil or administrative liability. This provision encourages proactive intervention without fear of legal repercussions when fraud or exploitation is reasonably believed to have occurred, is occurring, or is likely to occur. Reports should be submitted to the IDOF and the Idaho Commission on Aging to ensure prompt response and investigation efforts. A reporting form for financial institutions and reporting persons can be found on the IDOF website under the “Financial Exploitation of Certain Adults” tab.
Collaboration for Investigation: The law facilitates information sharing among financial institutions, reporting persons, law enforcement, and state agencies. This collaboration is expected to strengthen investigations, enhance protections for vulnerable adults, and hold perpetrators accountable.
Who is Protected: The law applies to “specified adults,” defined as individuals aged 65 or older, or adults aged 18 or older who have a physical or mental impairment that renders them unable to protect their own interests. The goal is to prevent financial fraud and exploitation before it results in irreparable financial harm.
For more information, consumers can view the full text of House Bill 182, titled Protection of Certain Adults from Financial Exploitation, online at https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2025/legislation/H0182.pdf.
To hear more about the law’s impact, listen to the latest episode of the IDOF Insights podcast featuring  the bill’s sponsor AARP Idaho, available on the Department of Finance Consumer Education page and on most major podcast platforms.